Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on January 22, 2025, as part of its ongoing buyback programme. The company purchased 1,172,900 shares on the London Stock Exchange at prices ranging from £26.76 to £27.11, with a volume-weighted average price of £26.9336. Additionally, 820,000 shares were purchased on XAMS at prices between €31.8550 and €32.2850, averaging €32.0690.

These purchases are part of Shell's share buy-back programme announced on October 31, 2024. Citigroup Global Markets is managing the trading decisions independently until January 24, 2025. The programme includes both on-market and off-market components, operating under UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Significant daily purchase volume indicates robust execution of buyback strategy

Negative

• None.

Insights

Financial Analyst

Shell continues its disciplined capital return strategy with another significant share buyback execution, purchasing 1,172,900 shares on the LSE at an average price of £26.93 and 820,000 shares on Euronext Amsterdam at €32.07. This systematic approach to share repurchases demonstrates Shell's strong cash flow generation and commitment to shareholder returns.

The dual-exchange execution strategy (London and Amsterdam) reflects Shell's sophisticated approach to maintaining market liquidity while managing price impact. The relatively tight price ranges - a spread of just £0.35 in London and €0.43 in Amsterdam - suggests well-executed block trades that minimize market disruption.

For retail investors, these ongoing buybacks represent a positive technical factor supporting the stock price. By reducing the number of outstanding shares, Shell is effectively increasing earnings per share and return on equity metrics. The timing of these purchases, coming amid global energy market volatility, indicates management's confidence in the company's valuation and cash flow outlook.

In simpler terms: Shell is using its extra cash to buy back its own shares from the market. This typically helps boost the stock price over time since there are fewer shares available to trade and each remaining share represents a slightly larger ownership piece of the company. It's like a pizza - if you remove a few slices, each remaining slice becomes a bigger percentage of the whole pizza.

Transaction in Own Shares

22 January, 2025

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Shell plc (the ‘Company’) announces that on 22 January 2025 it purchased the following number of Shares for cancellation.

Aggregated information on Shares purchased according to trading venue:

Date of purchase	Number of Shares purchased	Highest price paid	Lowest price paid	Volume weighted average price paid per share	Venue	Currency
22/01/2025	1,172,900	£27.1100	£26.7600	£26.9336	LSE	GBP
22/01/2025	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
22/01/2025	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
22/01/2025	820,000	€32.2850	€31.8550	€32.0690	XAMS	EUR
22/01/2025	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
22/01/2025	-	€0.0000	€0.0000	€0.0000	TQEX	EUR

These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 31 October 2024.

In respect of this programme, Citigroup Global Markets Limited will make trading decisions in relation to the securities independently of the Company for a period from 31 October 2024 up to and including 24 January 2025.

The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Citigroup Global Markets Limited on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries

Media International: +44 (0) 207 934 5550

Media Americas: +1 832 337 4335

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Acquisition or disposal of the issuer’s own shares

Attachment

• RNS Template 22-Jan-25 - complete

FAQ

How many shares did Shell (SHEL) repurchase on January 22, 2025?

Shell repurchased 1,172,900 shares on the London Stock Exchange and 820,000 shares on XAMS (Amsterdam) on January 22, 2025.

What was the price range for Shell's (SHEL) share buyback on January 22, 2025?

On the London Stock Exchange, shares were purchased between £26.76 and £27.11, while on XAMS, the price range was €31.8550 to €32.2850.

When will Shell's (SHEL) current buyback programme end?

The current buyback programme, managed by Citigroup Global Markets , will continue until January 24, 2025.

When did Shell (SHEL) announce this buyback programme?

Shell announced this share buy-back programme on October 31, 2024.